Extracts from the press conference by José Manuel Barroso on Cyprus

Type: Summary of press conference   Reference: I-077148   Duration: 10:02:18  Lieu:
End production: 25/03/2013   First transmission: 25/03/2013
On 25 March 2013, José Manuel Barroso, President of the EC, gave a press conference on Cyprus. On this occasion, he welcomed the agreement reached on 24 March 2013 regarding a programme for the Republic of Cyprus which aims at restoring the viability of the Cypriot economy. He announced the set up a Task Force for Cyprus to provide technical assistance and further expertise to the Cypriot authorities.

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TIME DESCRIPTION DURATION
10:00:00 Title 00:00:05
10:00:05 European flags in front of the European Commission, in Brussels 00:00:05
10:00:10 José Manuel Barroso, President of the EC, being introduced by Pia Ahrenkilde Hansen, Spokesperson of the EC, before the beginning of the press conference on Cyprus 00:00:00
10:00:10 José Manuel Barroso, President of the EC, being introduced by Pia Ahrenkilde Hansen, Spokesperson of the EC, before the beginning of the press conference on Cyprus 00:00:03
10:00:14 Soundbite by José Manuel Barroso (in ENGLISH): After talks at the highest level with the President of Cyprus, the Eurogroup yesterday reached an agreement on a programme for the Republic of Cyprus that, if properly implemented, we believe will restore the viability of the Cypriot economy. The European Commission has worked intensively to make this deal possible. We have had the interests of the people of Cyprus in mind throughout this process, since we started talks on a possible programme already in 2011. We had to find a solution together for a business model that was not viable and could not offer lasting prosperity to the people of Cyprus. 00:00:40
10:00:54 Cutaway of the audience 00:00:05
10:00:59 Soundbite by José Manuel Barroso (in ENGLISH): Last night, we agreed on a 10 billion Euro package, worth 55% of the Gross Domestic Product (GDP) of Cyprus. And we need to look at how we can mobilise all the means at our disposal. That is why I have decided to set up a Task Force for Cyprus to provide technical assistance to the Cypriot authorities. We want to alleviate the social consequences of the economic shock by mobilising funds from European Union instruments and by supporting the Cypriot authorities' efforts to restore financial, economic and social stability. We will bring in further expertise to facilitate the emergence of new sources of economic activity. 00:00:42
10:01:42 Cutaway of photographers 00:00:04
10:01:46 Soundbite by José Manuel Barroso (in ENGLISH): The Task Force will be based in Brussels, with a support team in Nicosia. It will work closely with the Cypriot authorities to support and supplement the EU-IMF programme. Its work will have a strong focus on employment, competitiveness and growth. The Task Force will provide quarterly progress reports to the Cypriot authorities and the Commission. General coordination of the Task Force, which is also coordinating closely with the Task Force for Greece, will be ensured by Olli Rehn, Vice-President of the EC in charge of Economic and Monetary Affairs and the Euro. 00:00:32
10:02:18 General view of the press conference with José Manuel Barroso and Pia Ahrenkilde Hansen 00:00:06
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